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The City of New York Announces Upcoming Sales of General Obligation Bonds

March 31, 2025

The City of New York (the “City”) announced the details of its upcoming sales of tax-exempt and taxable General Obligation bonds. Proceeds from the sales will be used to fund capital projectsand reoffer certain outstanding bonds.

Subject to market conditions, the City intends to price approximately $1.57 billion of tax-exempt fixed rate bonds on Tuesday, April 8, 2025, via negotiated sale through an underwriting syndicate led by book-running lead manager Loop Capital Markets. BofA Securities, J.P. Morgan, Jefferies, Ramirez & Co., Inc., RBC Capital Markets, Siebert Williams Shank, and Wells Fargo Securities will serve as co-senior managers on the transaction.

Retail investors will have priority in placing orders for the tax-exempt fixed rate bonds during a one-day retail order period on Monday, April 7, 2025.

Additionally, subject to market conditions, the City intends to price $1.75 billion of taxable fixed rate bonds on Tuesday, April 15, 2025, via negotiated sale through an underwriting syndicate led by book-running lead manager RBC Capital Markets. BofA Securities, J.P. Morgan, Jefferies, Loop Capital Markets, Ramirez & Co., Inc., Siebert Williams Shank, and Wells Fargo Securities will serve as co-senior managers on the transaction.

The Preliminary Official Statements, Preliminary Reoffering Circular, and investor presentations relating to the tax-exempt and taxable fixed rate bonds are expected to be available on or about March 31, 2025 on MuniOS.com.

During the week of April 21, 2025, the City expects to reoffer $400 million of tax-exempt adjustable rate bonds, pursuant to a separate Reoffering Circular. The remarketing agents are expected to be U.S. Bank and Goldman Sachs.

The City also intends to sell $300 million of tax-exempt variable rate bonds during the week of April 28, 2025, including $200 million of adjustable rate bonds and $100 million of index rate bonds. The adjustable rate bonds will be sold pursuant to a separate Official Statement, with BofA Securities and TD Securities expected to serve as remarketing agents. The index rate bonds will be issued and placed directly with Wells Fargo Bank.

Notice and Disclaimer

Under no circumstances shall the information on this website constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Offers to purchase securities may be made only through a registered broker-dealer and through an official statement.

The information contained on this website has been included for general informational purposes only and no person should make any investment decision in reliance upon the information contained herein.

Bonds may not be sold, nor may an offer to buy be accepted, prior to the time an Official Statement is delivered in final form. A definitive Official Statement with respect to any bonds will be made available concurrently with their sale. A Preliminary Official Statement for any bonds may be obtained from the firms listed on the cover of the Preliminary Official Statement and on this website.

Any Preliminary Official Statement relating to bonds included on the Upcoming Transactions page is provided only as a matter of convenience.

For investment advice on bonds, please contact your investment advisor.

No statement found on this website is incorporated by reference in any Official Statement for the bonds and no statement on this website is part of any Official Statement.

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$284.27 billion
Jan
2025